Private equity tycoon snaps up Epstein’s ‘paedophile island’
Private equity tycoon seizes Epstein’s ‘pedophile island’ for less than half its initial asking price
A private equity mogul has bought Jeffrey Epstein’s infamous Caribbean islands for less than half the original asking price.
Stephen Deckoff, the founder of Black Diamond Capital Management, paid £48 million for Little St James and Great St James in the US Virgin Islands, well below its £100 million valuation.
He plans to open a 25-room luxury resort in about two years.
Cut-price deal: Stephen Deckoff, the founder of Black Diamond Capital Management, paid £48 million for Little St James and Great St James in the US Virgin Islands
Deckoff, who moved to the area more than a decade ago, said he never met Epstein or visited what was known as “pedophile island” because of his role in Epstein’s sex trafficking business.
The islands were put up for sale after Epstein died while awaiting trial in 2019.
“I am thrilled to be able to turn the area into a world-class destination that enhances its natural grace and beauty,” said Deckoff.
“I very much look forward to working with the US Virgin Islands to make this dream come true.”
He aims to stimulate tourism and development ‘while respecting and preserving the important environment of the islands’.